Jul 31, 2020 (China Knowledge) - Hefei Jianghang Aircraft Equipment (688586) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 10.27 per share, raising RMB 1.04 bln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 47.17.
AVIC Securities, CITIC Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Hefei Jianghang Aircraft Equipment said its IPO was 2,467 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
Hefei Jianghang Aircraft Equipment Corporation Ltd is a China-based company mainly engaged in the research and development, manufacturing and sales of aviation equipment and special refrigeration equipment. The Company's main products include aviation oxygen systems, airborne fuel tank inert protection systems, aircraft auxiliary fuel tanks and other aviation products, as well as military and civilian special refrigeration equipment.
In financial year 2019, Hefei Jianghang Aircraft Equipment garnered a total revenue of RMB 674.5 mln, up 2% YoY. In terms of net income, it achieved RMB 113 mln, up 59% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 15.06% and 6.19% respectively, earning per share (EPS) of 0.37 RMB.
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